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Home Business

Standard Chartered Leads Trans-Niger Oil & Gas Limited (“TNOG”)’s acquisition of OML 1

30th January 2021
in Business
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Standard Chartered Leads Trans-Niger Oil & Gas Limited (“TNOG”)’s acquisition of OML 1
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Standard Chartered Bank acted as Global Co-Ordinator/Financial Advisor to Heirs Holdings Oil & Gas Limited (formerly Trans-Niger Oil & Gas Limited) on its acquisition of a 45% working interest in OML 17 (a producing onshore oil and gas asset in Nigeria) from Shell Petroleum Development Company of Nigeria Limited (“SPDC”), Total E&P Nigeria Limited (“TEPNG”) and Nigerian Agip Oil Company Limited (“NAOC”) (a subsidiary of ENI SpA).

 

Standard Chartered advised HeirsHoldings Oil & Gas on all aspects of the transaction including market sounding, investor screening, transaction structuring, negotiation with financiers and the sellers, regulatory engagement, overall process management and completion escrow account structuring and management.

The Transaction, which is the largest oil & gas M&A deal in Africa in recent times, further demonstrates the Bank’s extensive knowledge of the Oil & Gas industry, access to investors and diverse capital sources, strong M&A capabilities and trusted relationship with the key transaction stakeholders

Speaking on the transaction, Korede Adenowo, Executive Director, Corporate, Commercial and Institutional Banking, Nigeria & West Africa, Standard Chartered said,

Philip Nwosu

Philip Nwosu

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